Nomura analysts believe bitcoin increased Japanese national consumption

Nomura analysts believe bitcoin increased Japanese national consumption

Nomura Research Institute (Nomura) believes that bitcoin is becoming the wealth effect in japan.

The first half of 2017, in fact almost began in the past two years, most of the trading volume in the field of bitcoin China. The leading mining, is the largest and most reputable exchanges are located, many short-term trading and long-term holders of speculation.

Then in the summer, Chinese government banned bitcoin. Close the exchange, traders and investors looking for another family of encryption assets.

Japan is the best alternative locations, thus become the first of the market economy.

Please see below:


The right shows that in November 2017, the yen trading dominates the global bitcoin trading volume 40%. Six months ago, is also in April, the yen accounted for less than 30%, while the dollar trading at 35% leading.

What is the significance of these?

Because these Nomura analysts see the yen trading volume of bitcoin, and presumably become wealth effect in japan.

Can be inferred as follows:

Analysts believe that the 10 billion yen wealth growth makes personal consumption rose 200 million to 400 million yen. Now with many trading volume from Chinese transferred to Japan by the fact that this growth is in the value of assets recorded the highest historical background.

Based on these ideas, it is natural that coins (personal holdings over the past six months and currency price rise) richer.

wealth effect

The standard theory of classical economics describes the wealth effect of the above, pointed out that the more a person feel rich, consumption more. But this is not limited to current assets. When prices rise, people will feel richer, and more consumption, even if their bank accounts in disposable income has not changed.

This is also the basis of Japan’s Nomura believes bitcoin wealth effect caused by.

The results are as expected is not clear, some people think that the encryption currency volatility we see may dilute the wealth effect to a certain extent.

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